TRUST; MEANING OF BENEFICIARY; ARTICLE 10A TRUSTS (JERSEY) LAW 1984; APPROVAL OF VARIATION ON BEHALF OF MINOR AND UNBORN BENEFICIARIES

Representation of Novatrust Limited re Helford Trust [2026] JRC 010

For tax reasons, a non-beneficiary settlor wished to alter the trust from one which was revocable by him to an irrevocable trust.  It was held that although this was a beneficial power, and its exercise would cause beneficial ownership of the trust assets to revert to him, the settlor, not otherwise falling within the beneficial class, did not count as a ‘beneficiary’ for the purposes of Article 10A of the Trusts (Jersey Law 1984, which empowers a “beneficiary” to disclaim an interest under the trust notwithstanding its terms. The Court was, however, able to assist by approving on behalf of minor and unborn beneficiaries a variation of the trust in order to make the trust revocable.

Bridgeford A. WDJL, 26 January- 1 February 2026